Life Insurance corporateion of India is fully owned by Govnernment of India. Life Insurance Corporation of India, Act was passed by the Parliament on June 18, 1956 and came into effect from July 1, 1956.
Life Insurance Corporation of India started functioning as a corporate body from September 1, 1956.
LIC of India is the largest life insurance company in India with over 2000+ branches and over 12 lakh agents to solicit
life insurance business in the country and abroad. LIC of India provides wide range of life insurance plans from pure term insurance plans
to savings, annuity and investment products. LIC of India is stron in urban as well as in rural India. The quote of LIC of India
is "Yogakshemam Vahamyaham" which means - your welfare is our responsibility.
Today with more than 32 Crore policy holders and Life fund of more than Rs. 25 Lakh Crore, LIC of India is one of the biggest Companies in the Wrold.
LIC of India stands #1 in term of claim settlement in the World.
LIC is having around 21 Insurance plans as on 14th January, 2018. LIC cater to the needs of all categories of Indians in the World. Plans start from 0 to 80 years.
LICs flagship plan LIC JEEVAN AKSHAY which gives guaranteed returns throughout the term is a big hit among all kind of people.
The other plan LIC JEEVAN ANAND is considered to be the
best plan among all companies in the World. Jeevan Anand plan not only provides maturity,it also cover whole life till death free of cost.
LIC Tax Saving plans are best for Life Inusurance and Tax planning. LIC Life Insurance plans comes with dual benefits. Except some single premium plans, all LIC plans comes under section 80C of Income Tax ( Please read policy offer document)
and returns are tax free under section 10 (10 D). In the time of falling interest rates of all leading Public and Private Banks, LIC continues to march ahead of all its competitiors. LIC of India provides Life Insurance, Accident Benefit, Critical Illness benefit, Income Tax exemption on premium paid and on maturity.